– UK, London – Phoenix Global Resources plc (LON:PGR | BCBA:PGR), the upstream oil and gas company, which offers its investors exposure to Argentina’s Vaca Muerta shale formation and other unconventional resources, announces a change to the composition of the Board.
Under the Relationship Agreement between Upstream Capital, Mercuria EAM and Mercuria EG, as more fully described in the Admission Document dated 24 July 2017, the Mercuria Group currently has the right to appoint two directors to the Board. Matthieu Milandri and Guillaume Vermersch are the current appointees. With effect from 14 November 2018 Guillaume Vermersch has stepped down from the Board to be replaced by Daniel Jaeggi as one of the Phoenix Global Resources appoints Tim Harrington to its Board of Directors alongside Daniel Jaeggi as new appointee by Mercuria Groups. Daniel is co-founder and President of Mercuria Energy Group Limited.
In addition, we are also pleased to announce the appointment of Tim Harrington as a Non-executive director with effect from 14 November 2018.
Tim Harrington has over 37 years of oil and gas experience and spent 31 years with BP PLC in various commercial, financial, and operating leadership positions around the globe including postings in Houston, Anchorage, London, and Bogota. In his final two roles with BP, he served as CFO and President of BP America Production Company, BP’s onshore business focused on unconventional resources. Since leaving BP, he has been working with private equity and various start-ups in the US and currently serves as a Senior Energy Advisor to Trilantic Capital Partners, Mercuria Energy Trading, and Bayswater Exploration & Production.
Sir Michael Rake, Chairman of Phoenix said: “We would like to thank Guillaume for all he has contributed to Phoenix over the time he has been a director and would like to welcome to the Board Daniel, who brings a wealth of experience to Phoenix as one of the co-founders of the Mercuria Group and Tim, who brings a vast amount of experience from his time at BP.”
About Phoenix Global Resources
Phoenix Global Resources is a London Stock Exchange and Buenos Aires Stock Exchange listed independent Argentina focused oil and gas exploration and production company. The Company has over 6.3 million licenced working interest acres in Argentina (of which over 5 million are operated), 57.2 million boe of working interest 2P reserves and average production of approximately 11,070 working interest boepd in 2017. Phoenix has significant exposure to the unconventional opportunity in Argentina through its more than 560,000 working interest acres with Vaca Muerta potential.
For more information : https://www.phoenixglobalresources.com
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